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Cornish Metals says share price slump a head scratcher

Published 2024-05-17, 03:32 a/m
© Reuters.  Cornish Metals says share price slump a head scratcher

Proactive Investors - Cornish Metals Inc (TSXV:CUSN) (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said there were no operational or corporate reasons for the recent decline in its share price.

Notwithstanding the 10% bounces in the stock on Friday, there has been a net 35% decline in the value of the business over the past five working days.

Last month, the company posted what it described as a positive preliminary economic assessment (PEA) for its South Crofty tin project in Cornwall.

The PEA estimates an after-tax net present value of $201 million and an internal rate of return of 29.8%, confirming the project's viability and 14-year mine life.

Current activities include shaft refurbishment, mine dewatering, water treatment, and exploration drilling. A technical report will be filed within 45 days. The company's first-quarter results will be released on May 23.

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